Christie’s Spring Chinese Works of Art Sales in Hong Kong Total US$106,700,995

Christie’s Spring 2011 Chinese Ceramics Works of Art Sale in Hong Kong achieved a combined total of HK$829,712,250/US$106,700,995 from its four sales on 1 June, 2011. The top lot of the day was a fine and extremely rare falangcai ‘kui dragons’ bowl, Qianlong blue enamel four-character mark and of the period (1736-1795) which sold for HK$60,020,000/US$7,718,572 against an estimate of HK$10,000,000 – 15,000,000 (about US$1,287,000-1,930,500).

Pola Antebi, Head of the Chinese Ceramics and Works of Art Department at Christie’s Hong Kong, commented, “We saw enthusiastic bidding throughout the day, particularly for the single-owner sale (Inspired Connoisseurship: Property from a European Collection), which was 100% sold by lot and by value, demonstrating once again that works of art that are fresh to the market from private collections are in great demand.

A number of important lots from private collections were among today’s highlights. These include the extremely rare falangcai ‘kui dragons’ bowl (lot 3650) which sold for HK$60,020,000/US$7,718,572, achieving six times the estimate, and the magnificent Imperial mother-of-pearl inlaid black lacquer incense stand (lot 3577) which sold for HK$14,100,000/US$1,813,260, as well as the group of lacquers from the Kaisendo Museum.

Ceramics sold particularly well today, as did jade carvings and Imperial furnishings, a category that has seen much growth in recent years. One of the many highlights was the exceptionally rare and beautiful Qingbai seated figure of Guanyin (lot 3726) which was sought by enthusiastic collectors from around the globe and which sold for three and a half times the estimate (HK$25,300,000/US$3,253,580), a world record for a Qingbai porcelain.

70% of the lots in today’s sale sold above the high estimate with 33 lots selling in excess of US$1,000,000 (about HK$7,777,000), mostly to buyers from Greater China, with additional active participation from American and European clients. This season’s total represents 23% growth over the same period last year, and almost 300% over the same period in 2007.”

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